Synovus Financial Corp Has $1.40 Million Position in Gentex Co. (NASDAQ:GNTX)

Synovus Financial Corp boosted its holdings in Gentex Co. (NASDAQ:GNTX) by 119.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 47,136 shares of the auto parts company’s stock after acquiring an additional 25,693 shares during the period. Synovus Financial Corp’s holdings in Gentex were worth $1,400,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. SG Americas Securities LLC lifted its stake in shares of Gentex by 15.9% during the 2nd quarter. SG Americas Securities LLC now owns 10,124 shares of the auto parts company’s stock worth $341,000 after buying an additional 1,387 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its position in shares of Gentex by 31.9% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 35,286 shares of the auto parts company’s stock valued at $1,189,000 after purchasing an additional 8,536 shares during the last quarter. Envestnet Portfolio Solutions Inc. increased its stake in shares of Gentex by 50.6% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 9,485 shares of the auto parts company’s stock worth $320,000 after purchasing an additional 3,187 shares during the period. Assenagon Asset Management S.A. lifted its holdings in Gentex by 8.0% during the 2nd quarter. Assenagon Asset Management S.A. now owns 60,871 shares of the auto parts company’s stock worth $2,052,000 after purchasing an additional 4,492 shares during the last quarter. Finally, Raymond James & Associates boosted its stake in Gentex by 13.6% in the 2nd quarter. Raymond James & Associates now owns 650,884 shares of the auto parts company’s stock valued at $21,941,000 after purchasing an additional 77,816 shares during the period. 86.76% of the stock is owned by institutional investors.

Gentex Trading Up 0.0 %

Shares of Gentex stock opened at $30.59 on Monday. The company has a market cap of $6.96 billion, a PE ratio of 16.36, a price-to-earnings-growth ratio of 1.09 and a beta of 0.91. The company has a 50 day moving average of $30.13 and a 200-day moving average of $31.19. Gentex Co. has a 1-year low of $28.30 and a 1-year high of $37.58.

Gentex Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 22nd. Shareholders of record on Wednesday, January 8th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.57%. The ex-dividend date of this dividend is Wednesday, January 8th. Gentex’s payout ratio is presently 25.67%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on GNTX shares. The Goldman Sachs Group lowered their price objective on Gentex from $33.00 to $31.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 1st. UBS Group initiated coverage on shares of Gentex in a research note on Wednesday, September 4th. They issued a “neutral” rating and a $34.00 price objective for the company. Bank of America cut their price objective on shares of Gentex from $39.00 to $35.00 and set a “neutral” rating for the company in a report on Monday, October 14th. Robert W. Baird raised their target price on shares of Gentex from $35.00 to $37.00 and gave the stock an “outperform” rating in a report on Monday, October 28th. Finally, Guggenheim cut their price target on Gentex from $35.00 to $34.00 and set a “buy” rating for the company in a research note on Thursday, November 21st. Six analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $35.13.

Gentex Profile

Gentex Corporation designs, develops, manufactures, markets, and supplies digital vision, connected car, dimmable glass, and fire protection products in the United States, Germany, Japan, Mexico, Republic of Korea, and internationally. It operates through Automotive Products and Other segments. The company offers automotive products, including interior and exterior electrochromic automatic-dimming rearview mirrors, automotive electronics, and non-automatic-dimming rearview mirrors for automotive passenger cars, light trucks, pick-up trucks, sport utility vehicles, and vans for original equipment manufacturers, automotive suppliers, and various aftermarket and accessory customers.